Property | 123, High Street, Anytown | ||||||
Valuation Date |
11/03/2011 |
||||||
Lease Details | |||||||
Date |
25/12/1980 |
||||||
Term (years) |
99 |
||||||
Expiry Date |
24/12/2079 |
||||||
Unexpired Term |
68.83 |
years |
|||||
VALUES | |||||||
Value following purchase of extension say |
£200,000 |
||||||
Percentage relativity |
90% |
||||||
Current lease value |
£181,818 |
||||||
Diminution in Value of Freeholder’s Interest |
|||||||
Term 1 | RENT |
£50 |
|||||
X YP |
2.83 |
YEARS @ |
8% |
2.4464 |
|||
£122 |
|||||||
Term 2 | RENT |
£100 |
|||||
X YP |
33 |
YEARS @ |
8% |
11.5139 |
|||
deferred for |
2.83 |
years |
0.8042865 |
£926 |
|||
Term 3 | RENT |
£200 |
|||||
X YP |
33 |
YEARS @ |
8% |
11.5139 |
|||
deferred for |
35.83 |
years |
0.0634493 |
£146 |
|||
£1,194 |
|||||||
Reversion | To share of freehold with vacant possession |
£202,020 |
|||||
X PV |
68.83 |
YEARS @ |
5% |
0.0347969 |
|||
£7,030 |
|||||||
Total Diminution |
£8,224 |
||||||
Calculation of Marriage Value | |||||||
Value of flat with extension |
£200,000 |
||||||
Reversion | X PV | 158.83 | Years @ |
5% |
0.0004310 |
||
£86 |
|||||||
Aggregate value of interests after grant of new lease |
£200,086 |
||||||
Less |
|||||||
Existing lessee’s interest |
£181,818 |
||||||
Total of Landlord’s existing interest |
£8,224 |
||||||
£10,044 |
|||||||
Take | 50% Marriage value |
£5,022 |
|||||
TOTAL |
£13,246 |